China Merchants Land Limited provided consolidated financial guidance for the year ended December 31, 2015. Based on the unaudited consolidated management accounts of the Group, the board of directors of the Company informed the shareholders of the Company and potential investors that the Group is expected to record a significant decline in profit for the year ended 31 December 2015. The change in profit for the year was primarily due to significant decline in revenue and profit for the year ended 31 December 2015 as compared to the year 2014 due to the significant decline in the total gross floor area completed and delivered during the year of 2015 (while as at 31 December 2015, the Group had deposits received from the pre-sales of properties not yet delivered of approximately RMB 9.6 billion (estimating a year-on-year increase of approximately 49%), such properties are expected to be delivered upon completion of construction); an exchange loss was noted for the year ended 31 December 2015 while an exchange gain was recorded for the year ended 31 December 2014.

The exchange loss recorded in the year of 2015 was mainly due to the significant depreciation of Renminbi against United States Dollars during the year ended 31 December 2015.